The Insurance Bureau of Canada (IBC) has appointed Celyeste Power as president and CEO, effective January 1, 2023.
Power, currently the EVP of strategic initiatives and advocacy at IBC, will take over the helm from Don Forgeron, who is retiring from the post at the end of this year. A leadership transition plan is now underway.
In her current role, Power advances IBC's national advocacy priorities and leads operational strategies including planning and budget development. Since joining IBC, she has held progressively senior roles, including national corporate spokesperson; executive director of strategy and member engagement; VP - Western; and chief strategy officer.
“I'm thrilled about the opportunity to lead one of Canada's preeminent industry associations,” said Power. “I am truly passionate about the important work IBC does on behalf of P&C insurers, bringing forward public policy solutions to some of the most urgent challenges facing our country. As this industry plays a vital role in society and touches the lives of all Canadians, I am honoured to be entrusted with the role of representing the industry with governments, stakeholders and consumers.”
The IBC board of directors announced Power’s appointment after an extensive search, with board chair Heather Masterson, president and CEO of Travelers Canada, commenting: “We are extremely pleased with today's announcement. Celyeste brings a wealth of experience in government relations, a deep understanding of the issues affecting Canadians and the property and casualty (P&C) insurance industry, and a drive and focus to find solutions that will work for all stakeholders.”
Power is a strong advocate for diversity, equity, and inclusion (DE&I), and is an active member of The Insurance Supper Club Canada, which supports the advancement of women to senior positions across the insurance industry, and recently completed a program with Women Get on Board.
Don Forgeron has announced his retirement from the IBC in June 2022, after 28-years of service with the property and casualty (P&C) insurance trade association.
At the time, he said: "It has been an honour to serve as IBC's president and CEO. IBC has grown to become a credible and trustworthy voice for governments, regulators and consumers who rely on insurers to provide protection to Canadians when they need it most.
"I'm proud of what IBC and the industry have accomplished during my tenure. We've made progress on fixing broken auto insurance systems to work better for drivers. We've built on the momentum for a national flood insurance program to protect homeowners from the impacts of our changing climate. And IBC and its members have continued to show that a strong, competitive insurance industry is a force for good in the lives of Canadians."
